Section 2
SEC. 2. Section One hundred seventy-one of the same Act is further amended to read as follows: "SEC. 171. It shall be the duty of the Insurance Commission to see that all laws relating to insurance and insurance companies are faithfully executed and to perform the duties imposed upon it by this Act. "It may issue such rulings, instructions and orders as it may deem necessary to secure the enforcement of the provisions of this Act, subject to the approval of the Secretary of Finance. "Any decision made by the Insurance Commission by virtue of the powers conferred upon it by this Act shall be appealable, unless otherwise specified, to the Secretary of Finance, whose decision shall be final. "SEC. 171 (A) The Insurance, Commission shall have the power to adjudicate claims and complaints involving any joss, damage or liability for which an insurer may be answerable under any kind of policy or contract of insurance or for which such insurer may be liable under any contract of guaranty or surety ship, including official recognizance, stipulations, bonds and undertakings issued under authority granted pursuant to Act No. 536, as amended by Act No. 2206, where the amount of any such loss, damage or liability being claimed or sued upon any kind of insurance or bond contract does not exceed in any single claim of one hundred thousand pesos (P100,000.00), and any decision, order or ruling rendered by the Insurance Commission after a hearing shall have the force and effect of a judgment. "The aggrieved party may, within thirty (30) days from receipt, appeal from such decision, order or ruling to the Supreme Court. "The provisions of Rule 43 of the Rules of Court shall insofar as practicable apply to appeals from the Insurance Commission to the Supreme Court."